MPAA Lobbies For Wall Street Reform

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Did you know the MPAA and the RIAA have already spent $5 million (combined) lobbying Washington D.C. and they are on track to break all previous records (in terms of money spent)?

It is no secret that the MPAA and RIAA spend millions in Washington to guarantee that their anti-piracy interests are secured. However, it turns out that not all the lobbying dollars go to secure the well-being of workers in the entertainment industry. The MPAA has also spent significant funds on the implementation of a Wall Street reform law, one that was proposed by the new MPAA CEO Chris Dodd when he was senator.
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cor·rup·tion [kuh-ruhp-shuhn]

noun
1.
the act of corrupting or state of being corrupt.

2.
moral perversion; depravity.

3.
perversion of integrity.

4.
corrupt or dishonest proceedings.

5.
bribery.
 
I'm assuming the breaking records part is breaking their own records? Because the money they're spending in no way reaches the level of players like the Chamber of Commerce.

And wow, that's pretty low down and shady. And the sad thing is I'm so jaded at this point that I just go...meh.
 
Dodd learned the most important lesson of politics. Politicians do not have any power, the lobby's that keep them in office do.
 
Yanno, need to make a law that every dollar spent lobbying needs to be matched and just given to the government...

14 trillion dollar deficit? Wiped out in a matter of years!
 
shit no edit

Call it

Debt Underwriting Monetary Bank Associates

or DUMB Ass for short.
 
It's craziness that the MPAA is actually lobbying for something I sorta agree with. I may have to downgrade them to 97% evil from their former perfect record.
 
It's just a show. Their wizards of 'think' have found a win win situation, where they gain positive reaction in the public eye and propositions within the Wall Street reform law would help their bottom dollar in the long run.
 
sfsuphysics said:
Yanno, need to make a law that every dollar spent lobbying needs to be matched and just given to the government...

14 trillion dollar deficit? Wiped out in a matter of years!
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I could live with that. Half of every dollar spent by lobbies buying laws must be paid in taxes. Let's gop aheasd and apply that to every campaign contribution. Hell, we would be in surplus, if such a thing were actually possible.
 
Oh great, Dodd is in charge of the mpaa now?! That piece of human excrement outta really class up the joint.
 
Steve, please correct the title.

The MPAA is not attempting to "reform" Wall Street.

For more than a year now, they have been trying to implement derivative contracts that allow bankers to bet on movie revenue. They would get a slice of the cake on every bet that was made. They are paying big dollars to Congress in the hopes this goes through and is not regulated in any way (similar to CDS -- they want to assure that anyone can bet, not just those who adhere to capital standards).

Surprising, considering this forum has covered MPAA's attempt to enter the derivatives market many times before. ;)
 
http://money.cnn.com/2011/08/16/news/economy/starbucks_boycott_washington/index.htm?iid=Lead

Starbucks CEO to DC: You've been cut off said:
"I am asking that all of us forgo political contributions until the Congress and the President return to Washington and deliver a fiscally, disciplined long term debt and deficit plan to the American people," Schultz wrote in a letter that was passed on to members of the NYSE and Nasdaq.
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Only 0.04% of Americans give in excess of $200 to candidates, parties or political action committees -- and those donations account for 64.8% of all contributions.
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Thats about 123,500 people. The spending was $5.2 billion in '08 on elections. So those 123,500 people gave, on average, $27k each, more than 50% the median household income. And people wonder why the common man doesn't have a voice.
 
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